Morningstar Investment Management LLC Takes Position in Paycom Software, Inc. $PAYC

Morningstar Investment Management LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,553 shares of the software maker’s stock, valued at approximately $432,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reinhart Partners LLC. lifted its stake in shares of Paycom Software by 887.4% in the 4th quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock worth $95,351,000 after acquiring an additional 537,726 shares during the period. Contour Asset Management LLC purchased a new position in Paycom Software during the fourth quarter worth about $60,333,000. Two Sigma Investments LP raised its holdings in Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after purchasing an additional 370,219 shares in the last quarter. Invesco Ltd. lifted its position in Paycom Software by 28.2% in the fourth quarter. Invesco Ltd. now owns 1,559,682 shares of the software maker’s stock valued at $248,551,000 after purchasing an additional 343,494 shares during the period. Finally, River Road Asset Management LLC lifted its position in Paycom Software by 481.9% in the fourth quarter. River Road Asset Management LLC now owns 392,403 shares of the software maker’s stock valued at $62,533,000 after purchasing an additional 324,970 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PAYC has been the topic of several recent analyst reports. Mizuho boosted their target price on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Barclays lifted their price target on Paycom Software from $148.00 to $154.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Zacks Research raised Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Citigroup boosted their target price on shares of Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, TD Cowen lowered their price target on shares of Paycom Software from $154.00 to $149.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.75.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $145.71 on Monday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.23 and a beta of 0.80. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50 day simple moving average is $136.71 and its 200-day simple moving average is $133.12. Paycom Software, Inc. has a 12 month low of $104.90 and a 12 month high of $248.95.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.16. The firm had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.Paycom Software’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. As a group, equities analysts forecast that Paycom Software, Inc. will post 9.37 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, May 26th. Paycom Software’s dividend payout ratio is currently 17.34%.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.